CCL announces wine label joint venture.

Position:INDUSTRY News
 
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* CCL Industries Inc., a provider of specialty packaging products for the consumer products and healthcare industries, has announced that it: will make its first investment in Chile. Acrus-CCL, based in Santiago, is a joint venture between CCL and a newly created Chilean investment holding company, which has two groups of shareholders: Mitchell Kendall and David Goodman, both veterans of the label industry as former principals of Cameo Crafts Graphic Industries; and Jose Mingo, Aldo Gonzalez and members of the Marinetti family, who have a long history in packaging and the wine and spirits market in Chile. CCL and its partner will each have a 50% interest in Acrus-CCL; Gonzalez has been appointed as general manager.

The partners will initially invest approximately $10 million between them, financed by a combination of debt and equity, to create a state-of-the-art label production plant in Santiago dedicated to the wine industry. Chilean wine exports have more than doubled in less than a decade and are estimated to have reached 50 million cases in 2011. CCL's initial equity investment of $2 million will be matched by its joint venture partner. Acrus-CCL will eventually expand its presence in the wine and spirits market to other...

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